Private Equity 3 Hours

Last updated: May 18, 2026, 2:30 PM ET

Private Equity Fund Management

EQT secured the mandate to manage the European Union's new €5bn Scaleup Europe fund, beating out Atomico in a competitive process. The fund will focus on deep-tech investments including quantum computing and artificial intelligence, marking EQT's continued expansion into strategic technology sectors across Europe.

PE Exit Strategies & Investments

Bain Capital and General Atlantic emerged as top bidders for Gong Cha, the popular bubble tea chain, as TA Associates pursues a $2bn exit from its investment in the brand. This transaction underscores the ongoing consolidation in the global food and beverage sector, where PE firms continue to seek strategic acquisitions despite market volatility.

Private Equity Acquisitions

Wynnchurch-backed EMS acquired American Metals Supply, expanding its presence in the aluminum distribution market. The Florida-based distributor strengthens EMS's regional footprint and supply chain capabilities, reflecting private equity's continued interest in industrial manufacturing and materials distribution assets across the U.S. Southeast.

Private Credit Programs

Citi and BlackRock's HPS launched a €15bn Private Capital Program targeting direct lending to corporate and sponsor-owned borrowers across EMEA. The significant scale of this initiative highlights growing institutional appetite for private credit solutions as traditional banking constraints tighten in European and Middle Eastern markets.